Board of Directors Resolutions

2012

Forty two (42) meetings of the Board of Directors (in absentia) were held in 2012 where 53 issues were discussed and resolutions made, including on:

• Eighteen (18) transaction of interest for the Company;
• Preliminary approval of the Company’s annual financial reporting for 2011 and dividends distribution for 2011;
• Approval of audited financial reporting for 2011 of the Company’s subsidiary organizations;
• Approval of the Company’s and subsidiaries’ scheduled documents;
• Approval of the Company’s internal documents;
• Sales of subsidiary organizations share;
• Appointment of the Company’s Corporate Secretary.

2013

Fifty three (53) meetings of the Board of Directors were held in 2013 where 73 issues were discussed and resolutions made, including on:

• Twenty three (23) transactions of interest for the Company
• Preliminary approval of the Company’s annual financial reporting for 2012 and dividends distribution for 2012;
• Approval of audited financial reporting for 2012 of the Company’s subsidiary organizations;
• Approval of the Company’s and subsidiaries’ scheduled documents;
• Approval of the Company’s internal documents;
• Restructuring of non-core assets of the Company;
• Approval of the registers of risks, policy, rules and reports of the Company’s risks management

2014

Thirty seven (37) meetings of the Board of Directors were held in 2014 where 86 issues were discussed and resolutions made, including on:

• Thirteen (13) transactions of interest for the Company
• Election of the composition of the Company’s Board
• Approval of audited financial reporting for 2013 of the Company’s affiliated  organizations;
• Approval of the planned documents of the Company and affiliated organizations;
• Approval of the Company’s internal documents;
• Restructuring of non-core assets of the Company;
• Approval of the registers of risks, policy, rules and reports of the Company’s risks management

2015

Thirty three (33) meetings of the Board of Directors were held in 2015 where 58 issues were discussed and resolutions made, including on:

• Eighteen (18) transactions of interest for the Company
• Approval of audited financial reporting for 2014 of the Company’s affiliated  organizations;
• Approval of the planned documents of the Company and affiliated organizations for 2016;
• Approval of the Company’s internal documents;
• Establishment of ULBA-FA LLP
• Restructuring of non-core assets of the Company;
• Approval of the registers of risks, policy, rules and reports of the Company’s risks management

2016

Fifty one (51) meetings of the Board of Directors were held in 2016 where 93 issues were discussed and resolutions made, including on:

• Fifteen (15) transactions of interest for the Company
• Approval of audited financial reporting for 2015 of the Company’s affiliated  organizations;
• Pre-approval of annual financial reporting of the Company for 2015;
• Approval of the planned documents of the Company and affiliated organizations for 2016 and 2016-2020;
• Approval of the Company’s internal documents;
• Re-structuring of the Company’s non-core assets;
• Approval of the registers of risks, policy, rules and reports of the Company’s risks management
• Approval of the key activity index of the Company Board Chairman and members for 2016;
• Approval of the Company’s strategy for 2016-2025.

2017

Seventeen (17) meetings of the Board of Directors were held in 2017 where 85 issues were discussed and resolutions made, including on:

• Three (3) transactions of interest for the Company;
• Approval of audited financial reporting for 2016 of the Company’s affiliated  organizations;
• Preliminary approval of the Company’s annual financial reporting for 2016;
• Approval of the planned documents of the Company for 2017 and 2017-2021;
• Approval of the Company’s internal documents;
• Restructuring of non-core assets of the Company;
• Approval of the registers of risks, risk map, risk appetite and reports of the Company’s risks management;
• Approval of the performance factors of the Company’s Board Chairman and Board members for 2017.